How To Choose An Apartment To Rent

When you think of an apartment, you may imagine a small two bedroom space with a tiny kitchen, basic features, and a balcony. The truth is that many apartments have impressive updates that include open plan living, 24 hour security, and access to on-site amenities such as a swimming pool. Because today’s apartments differ in size, location, layout, and cost, it is important to look at all of these factors before you decide to move into an apartment complex.

Let’s take a closer look at what you should consider when you are shopping for an apartment to rent.

1. The Cost

You can expect the following expenses when renting an apartment:

• Security Deposit
• Rental Deposit
• Monthly Rent
• Utilities
• Moving costs (once-off)

The Security Deposit vs The Rental Deposit

A security deposit is requested with every apartment lease. It will cover the expenses of maintenance, post-move out cleans, and damages to the apartment by the end of the lease. If the unit is in good condition by the time your contract expires, you will be refunded the security deposit.

A rental deposit is paid to a landlord or property manager to hold an apartment prior to signing a lease. It is contingent on affordability and in most cases when there are many applicants, and you have your sights set on a particular space. You would then pay a deposit to the landlord and if you get approved financially, you will proceed to sign a lease. The rental deposit is then deducted from your first- or second-month’s rent.

Utilities 

The electric and water bill is not always included in your rent. Always check whether your utilities are part of your monthly rent. If you are renting a condo, you will pay a monthly maintenance fee that is separate from your rent or repayments (if you have purchased the condo). 

2. The Size

Do you have children, do you have pets, will you be entertaining friends and family? These are questions that you should ask before you apply for an apartment. Many people will opt for a smaller apartment in the city that they can afford rather than a more spacious place to rent a little further from town. The problem is when you do have kids or pets and you find that the apartment is too cramped to accommodate your needs; by then you’ve signed the lease and it is too late to back out. The best way to choose an apartment is to consider the square footage. What do you need to live comfortably and what can you afford? It is also a good idea to visit the apartment prior to applying for it. It will help you get an idea of how it could work for your lifestyle.

3. Security and Location

You may have heard that moving to a new place is all about choosing the right location. The area or community you move into should always be high up on your list but it’s not your only consideration.

The following factors can help you find the right location to move into:

Safety – You want to know that the area is safe for your children and your general lifestyle. Do they have monitoring services (surveillance), are non-residents restricted from reaching the units, and is the apartment itself secure (the doors, windows, and general layout)?

Travel – Can you get to work without spending hundreds on daily travel costs? It’s pointless saving on the monthly rent only to cover the high costs in getting to work every day. Consider major highways, average daily traffic, and whether stores, clinics, and schools are close by. Think about what you need and how easy it will be to get around.

Amenities – Can you reach a gym, is there a swimming pool, is there a safe space for children to play outdoors?

Community – Everybody wants to move into a helpful community where residents look out for one another. If you are looking to get involved in local activities, investigate which apartment offers community driven programs and events that you can get involved in to meet new people.

A Little Bit of Homework Goes a Long Way 

With some homework or research into apartments that you prefer, you can choose the right location and the right unit. Whether you sign a lease for 6 months to a year, you should feel secure and you should be happy. Take some time to check on your apartment lease and rent a place that meets your every need.